In This Article:
Ethereum
Ethereum fell by 0.70% on Friday. Following a 1.83% decline on Thursday, Ethereum ended the day at $1,528.82.
A bearish start to the day saw Ethereum slide to a late morning intraday low $1,442.32 before finding support.
Ethereum fell through the first major support level at $1,488 and the second major support level at $1,435.
Steering clear of sub-$1,400 levels, however, Ethereum bounced back to strike a late intraday $1,551.19.
While breaking back through the major support levels, Ethereum failed to break through the day’s pivot level at $1,556.
At the time of writing, Ethereum was up by 0.73% to $1,540.01 A bullish start to the day saw Ethereum rise from an early morning low $1,528.46 to a high $1,546.27.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall through the pivot level at $1,507 to support a run at the first major resistance level at $1,573 and the 23.6% FIB of $1,579.
Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $1,551.19.
Barring an extended crypto rally, the first major resistance level and resistance at $1,600 would likely cap any upside.
In the event of a breakout, Ethereum could test resistance at $1,650 before any pullback. The second major resistance level sits at $1,616.
Failure to avoid a fall through the $1,507 pivot would bring the first major support level at $1,464 into play.
Barring an extended sell-off, however, Ethereum should continue to steer clear of sub-$1,400 levels. The second major support level sits at $1,399.
Looking at the Technical Indicators
First Major Support Level: $1,464
Pivot Level: $1,507
First Major Resistance Level: $1,573
23.6% FIB Retracement Level: $1,579
38.2% FIB Retracement Level: $1,292
62% FIB Retracement Level: $830
Litecoin
Litecoin fell by 0.16% on Friday. Following a 3.75% fall from Thursday, Litecoin ended the day at $180.30.
Tracking the broader market, Litecoin slid to an early morning intraday low $168.58 before making a move.
Litecoin fell through the first major support level at $174 before rallying to a late intraday high $183.53.
Coming up short of the day’s pivot level and first major resistance level at $191, Litecoin slipped back into the red.
At the time of writing, Litecoin was up by 0.93% to $181.98. A bullish start to the day saw Litecoin rise from an early morning low $180.32 to a high $181.98.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid a fall through the $178 pivot level to support a run at the first major resistance level at $186.